I do know that the Federal Senate has approved, and I, Marconi Perillo, First Deputy Speaker of the Senate Federal, in the exercise of the Presidency, in the terms of art. 48, inciso XXVIII, of the Rules of Procedure, promulgated the following

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No. 13, DE 2009

Authorizes the Municipality of the Recife (PE) to hire external credit operation, with Union guarantee, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 32,760,000.00 (thirty two million and seven hundred and sixty thousand dollars Americans).

The Federal Senate resolves:

Art. 1º It is the Municipality of the Recife (PE) authorized to hire external credit operation, with guarantee from the Union, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 32,760,000.00 (thirty-two million and seven hundred and sixty thousand U.S. dollars).

Single Paragraph. The advent resources of the credit operation referred to in the caput are intended for the financing of the "Urban Development and Social Inclusion Project in Recife-Capibaribe Better".

Art. 2º The credit operation referred to in art. 1º should be contracted under the following conditions:

I-devedor: Municipality of the Recife (PE) ;

II-credor: International Bank for Reconstruction and Development (Bird) ;

III-guarantor: Federative Republic of Brazil ;

IV-value: up to US$ 32,760,000.00 (thirty two million and seven hundred and sixty thousand dollars Americans) ;

V-term of disbursement: 60 (sixty) months, counted from the duration of the contract ;

VI-amortization of the debtor balance: after deficiency of 60 (sixty) months, it will be held in up to 23 (twenty-three) semi-annual and consecutive plots, with maturity to each June 15 and December 15, being the first on June 15, 2013 and the last on June 15, 2024, being that the value of each instalment will follow a scaling of ratio (ratio) stipulated in the "Schedule 3" of the loan agreement, ranging from 3.88% (three integers and eighty-eight hundredths per cent) to the first installment up to 5.04% (five integers and four hundredths per cent) for the last one ;

VII-interest: required semester on the same dates of payment of depreciation and calculated on the periodic debtor balance of the loan, at a rate composed of the semi-annual Libor interest rate for the U.S. dollar, plus a constant spread, to be determined by the Bird at each fiscal year and fixed on the date of signature of the contract ;

VIII-interest arrears: 0.50% a.a. (fifty hundredths per cent a year) plus interest due and not yet paid after 30 (thirty) days of the expected date for your payment ;

IX-commission in sight: up to 0.25% (twenty-five hundredths) of the loan's value, to be detached on the date on which the contract enters into effectiveness.

§ 1º The loan referred to in the caputis ensured the option of converting interest rate applicable to the total or partial amount of the loan, from fixed to float, or vice versa, and the change in the reference currency of the credit operation, both for the already disbursed values, and for the amount to be disbursed, and the exercise of these options will entail charging the charges incurred by the Bird in carrying out the options and a transaction commission that will vary from 0.125% (one hundred and twenty-five thousandths per cent) to 0.25% (twenty-five hundredths per cent) over the affected values.

§ 2º The dates of payment of the principal and financial charges as well as of disbursements, may be changed depending on the date of signing of the loan agreement.

Art. 3º It is the Union authorized to grant guarantee to the Municipality of the Recife (PE) in the operation of external credit as referred to in this

Single Paragraph. The exercise of the authorization provided for in the caput is conditional on the Municipality of the Recife (PE) contract with the Union for the concession of contragaranties in the form of binding of the own revenue of which it treats art. 156, of the revenue allocation quotas of which they treat the arts. 158 and 159, all of the Federal Constitution, and others in accepted law, and the Federal Government may retain the necessary resources for coverage of the commitments honoured directly from federal transfers or centralizing accounts of the Municipality's collection.

Art. 4º The maximum period for the exercise of this authorization is 540 (five hundred and forty) days, counted from its publication.

Art. 5º This Resolution comes into force on the date of its publication.

Federal Senate, on June 20, 2009.

Senator Marconi Perillo

First Deputy Speaker of the Senate

Federal, in the exercise of the Presidency

Attachment (s)
Attachment (s)